Singapore-based startup studio Antler has raised $50m for a fund that includes payment services provider Credit Saison and diversified holding group Canica International, TechCrunch reported today.
Founded in 2017, Antler builds startups by matching potential co-founders and covering living costs for two months before offering pre-seed funding and, should a company show potential, later-stage capital.
The fund’s limited partners also include Eduardo Saverin, co-founder of social media company Facebook, Elaine Saverin and Christen Sveeas, who contributed through his wholly-owned investment firm, Kistefos.
Antler operates in the US, UK, Singapore, the Netherlands, Sweden, Australia and Kenya and has dedicated funds for each location.
The studio is sector agnostic and has overseen the formation of companies in areas such as direct-to-consumer brands and financial, robotics and property technology. It has invested in more than 120 startups to date but has not confirmed plans for the new fund.
Magnus Grimeland, founder and CEO of Antler, told TechCrunch: “At Antler, we aim to work with exceptional people regardless of their industry or specialisation, as long as they have a clear spike, drive and grit.
“We also specifically aim at diverse cohorts, to mix great technologists, product builders and operators. This includes extremely strong people who have been part of building great technology companies before, such as Spotify, iZettle, Grab or Lazada, or sold their previous startups.”
